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How can brands defy recession? By increasing marketing budgets

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In 2023, the looming recession hangs heavy in the air while departments analyse row after row of resources, projects, talent, business development initiatives, and future campaigns.

The knee-jerk reaction for any chief financial officer prepping for economic disruption is to find the line item under ‘marketing’ and start cutting from there. But as chief operating officer at my agency, I decided to not let fear of uncertainty guide our organization. I gave the directive to increase our marketing budget for 2023. I believe that by harnessing the power of marketing and allocating that increased spending wisely, brands will defy the recession.

Making marketing a priority during a recession

One needn’t search far to find data showing how much better brands that increased their marketing spend during a recession fare compared with those brands that cut back or eliminate it. An Analytic Partners report found that 60% of brands that increased media spend in the last recession saw a greater return on investment; those that spent more on paid advertising saw a 17% increase in incremental sales.

With competitors making cuts, the marketing environment shifts, offering more real estate for advertising. Brands can leverage the availability and lower ad costs to increase awareness. Maintaining your share of voice in the marketplace is much easier (and cheaper) than trying to earn it back. Take it from the marketers at Reckitt Benckiser, which launched a campaign amid the 2008 recession. “Reckitt Benckiser actually grew revenues by 8% and profits by 14%, when most of its rivals were reporting profit declines of 10% or more. They viewed advertising as an investment rather than an expense.”

But it’s not enough to simply increase (or maintain) a marketing budget during a recession. Brands must look to use that marketing spend wisely and allocate it to programs that will drive results. Here are four areas that will prove ROI.

1. Brand building

This is especially important in the B2B world. There has never been a better time to create and celebrate a brand purpose. Usually, a field that was dominated by B2C brands like Apple, last year’s FutureBrand Index (an annual perception study of PwC’s Top 100 companies based on brand perception) ranked four B2B brands in its top five. Maintaining a focus on brand building supports long-term sales through ongoing awareness and perception.

2. Customer retention and loyalty programs

Generating new business leads is always important for the growth of any brand. But customer experience can play a major role in strengthening customer retention – another source of demand through cross-sell and up-sell opportunities. As an added bonus, loyalty programs help increase brand trust and develop reliable customer data.

3. Digital transformation

Recession or none, digital transformation will keep on with its steady (and speedy) growth. To keep pace with B2B buyers’ demands, businesses will need to invest in e-commerce solutions, personalization and strong martech stacks to meet buyers at every step of their journey.

4. Talent acquisition and retention

Finding and keeping talent on board is key to surviving any recession. Marketing can play a major role by using existing marketing channels and strategies to recruit and re-recruit. Businesses need to think about how to best engage with the talent through channels, platforms and messages. Marketing can help create campaigns that attract qualified talent. Once that talent is found, retaining that talent is supported by living the brand values and purpose at every stage of the employee’s journey. Invest in training programs that provide up-skilling and professional development.

Recessions do end. Times can be uncertain, but we’ve weathered recessions before and even navigated a global pandemic. Investing in a brand’s growth for the long term requires an investment in brand awareness and strategic allocation of funds. If done thoughtfully, business leaders can experience a recession as a tailwind, instead of a headwind.

Feature Image Credit: Ibrahim Rifath via Unsplash

Sourced from The Drum

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3 Things You Need to Do to Achieve a Business Breakthrough

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Here are three specific things that I’ve seen accelerate success time and time again.

So, you’ve been grinding through the last year or so, trying to make your business successful and profitable. And still, that big breakthrough remains elusive.

As a multi-seven-figure business coach who has helped 700+ entrepreneurs build businesses online, I’m often asked what it actually takes to break through and sustain six-figure months. Of course, maintaining six-figure months does not happen overnight, but I have isolated three specific things that I’ve seen accelerate success time and time again.

While it could be chasing shiny objects, quitting too soon or losing focus on the things that will actually move the needle in your business, you do not need to accept these outcomes for yourself.

1. Get organized and efficient

While still working 60-hour weeks in healthcare, Joanne came to me to start her own coaching business in hopes of being able to cut back on gruelling work days. I told her I wanted to help her, but we were going to have to be as efficient and organized as possible in order to make the most of the time she did have available.

Despite working so many hours outside of her business, Joanne got herself organized from the start and was able to consistently create marketing content, bring on clients and develop her program.

Joanne took massive action, but it was not random. Random action may feel exciting, but it does not work long-term and only creates chaos and confusion. It might feel like you’re taking action, but it’s not meaningful unless there is a clear plan and desired outcome. This doesn’t mean you shouldn’t ever think on your feet — in fact, that is a crucial skill to have as an entrepreneur. But your business strategy and focus should have intention.

Once you have an organized plan, you need to make sure you are operating at your highest productivity level. That doesn’t mean doing the most you possibly can at all times. Being “very busy” is not the answer. It’s being busy taking strategic action and doing what will move your business forward, even if that means some of the “fun stuff” takes a back seat. If you are filling your days with tasks and not seeing profits for your efforts, you’re spending too much time being unproductive.

2. Show grit (or develop it)

I started working with Sarah after she had been trying to gain traction in her business for two years. She had recently quit her successful corporate career and knew she had a gift for helping other women but had fears about charging high-ticket for her program.

On our very first call, it became clear to me that Sarah was not lacking knowledge, ability or self-belief. She was paralyzed by perfection, afraid of making mistakes and not being liked.

After 12 weeks together, Sarah brought in $30,000 in revenue. So, what changed? What shift had to happen to transform Sarah and her business? Grit.

This is the “whatever it takes” stuff that leading entrepreneurs have. It’s perseverance, it’s consistency, it’s failing and starting again over and over and over if you have to. It’s taking ownership and making things happen for yourself.

And what is grit not? Waiting for everything to be perfect, worrying if people like you, complaining and blaming.

Not one successful person in any arena has succeeded without grit. Have you ever heard a top business leader or billionaire get to their level and say “Wow, that was so easy!” Never. When you can develop a high level of grit and resilience, success will happen.

3. Get help

Tamara was still working as a physician when she started her home organization business. Between long days at the hospital, creating marketing content and serving her clients, she was approaching burnout and feeling scattered.

Tamara’s business was making money, but not at the rate she knew it could if she just had more bandwidth. And she didn’t want the momentum that she did have to tank because she couldn’t keep up. It was time to get help.

Tamara hired her first virtual assistant to help with general business tasks and lead generation. Within a few weeks, she had two more clients, had a team member she could rely on to help keep her organized and had renewed energy in her business.

Getting help is vital. If you are doing everything yourself, it’s impossible to grow beyond a certain level and be the best at everything. Finding someone who can identify the weak spots, support where needed and share in your vision of success is key to breaking through to the next level.

This could be your year for a major business breakthrough if you follow these three tips for increasing your organization and productivity, digging deep and developing grit, as well as getting help.

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Sourced from Entrepreneur

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Reach Solutions Announces Leadership Changes in Ireland

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Reach Solutions, the publisher of some of Ireland’s leading media brands is delighted to announce changes to its leadership team.

It has appointed Hugh Crowther as Group Sales Director in the Republic of Ireland and Cherith Andrews as Group Sales Director in Northern Ireland.  Alan Curley takes up the role of Client Strategy Director on an all-Ireland basis.

Commenting on the new appointments, Jonathan Eakin, Commercial Director of Reach Solutions Ireland said:

“It’s an exciting time for Reach Solutions to have this fantastic talent leading the Irish sales function. Both Hugh and Cherith have been driving change through our Customer Value Strategy to ensure we are a robust digital-first publisher whilst Alan brings experience from working on both Media Owner and Agency side.

As a team they encourage a strategic thought process that complements the sales function by producing uniquely targeted and effective solutions for all our customers.”

“This wealth of experience and creativity in our new leadership team alongside our unrivalled Irish audiences ensures a bright future for the Irish business.”

Feature Image Credit: (L-R): Alan Curley, Client Strategy Director at Reach Solutions Ireland; Hugh Crowther, Group Sales Director at Reach Solutions Ireland and Cherith Andrews, Group Sales Director of Reach Solutions in NI.

Sourced from Aimée Rourke, Business Communications Manage.

[email protected] |  w.reachsolutions.co.uk

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6 Ways to Sustain and Grow a Small Business

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Sourced from BOSS Magazine

Starting a business from scratch and ensuring its success while keeping your business at par with the ever-evolving business market is easier said than done. Making a suitable business plan, putting appropriate customer care services in place, and marketing your business is indispensable to a prosperous business. In this article, we have compiled a list of factors to help ensure your business is sustainable and growing.

Start with an Annual Business Plan

Building a well elaborate business plan helps you track your past performance and allows you to govern your future. A sound business plan includes the vision of your company, mission statement, core values, and a well-defined strategic plan. Splitting it into monthly, quarterly, and annual goals will further help you monitor your company’s success. Keep a record of your mistakes, bottlenecks, potential weaknesses, lessons, accomplishments, and opportunities to make the most out of them.

Building the Perfect Website

Your company’s homepage is where most customers will land and decide whether they want to buy your product. A good website will be well designed, fast-loading, display content in a hierarchy, and be optimized for mobiles. Focus on keeping it informative, user-friendly, and a genuinely captivating reflection of what your company is about. You can consider going online to build the perfect website or hiring a professional to do the job.

Marketing

Optimizing your marketing capabilities to showcase your product should be your top priority. The most accessible way to achieve this is by using social media. You can grow your brand via Twitter, Instagram, Snapchat, or Facebook profiles. Utilize SEO and PPC ads to target your audiences through multiple channels. Some of the most reliable marketing strategies include starting a blog, building a lead magnet, using LinkedIn, and utilizing automation for email marketing sequences.

Expand

Ensuring that your business doesn’t stagnate is vital for its survival. If your organization is short on funds needed to grow, seeking a loan from a bank or finding potential investors may be your best shot. Establishing business credit to enhance your business’s ability to borrow is vital. Banks and investors are more likely to give loans to companies with well-established business credit. Enrolling in a business credit course can solve your problems.

Building Staff Relations

Hiring the right staff gives a business a strong foundation. Interview your employees thoroughly to know if their interests align with the core values of your business. Setting up monthly meetings to assess the quality of the workspace is equally essential. You should focus on keeping a healthy relationship with your staff and promoting a friendly, non-toxic environment in the workspace which preserves their mental health. A straightforward approach would be to set up individual and group meetings with your employees every once in a while and observe their behavior.

Customer Care

Connecting with your customer base is essential to elevating your business. The best way to enhance your customer experience is by developing a feedback loop. Consider creating a separate section on your website for feedback purposes. Conducting surveys and introducing in-app popups are some ways to get customer reviews. You might even get revolutionary ideas from your customer base on growing your business or what new products they want you to start making.

Endnote

Growing your business and ensuring its stability can be challenging. Calculating your risks and assessing when it’s the right time to take them will help you give your business the boost it needs. Make sure you have a well-designed website and a detailed business plan, and you’re focused on improving internal and internal relations. This will foster growth and enable you to expand your operations in a sustainable manner.

Sourced from BOSS Magazine

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How to be a CEO podcast: The rise of Harriet Hastings and the Biscuiteers

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By Rachelle Abbott and David Marsland

Harriet Hastings is the co-founder and MD of Biscuiteers.

Biscuiteers is a London-based luxury food gifts company which is now growing into the American market.

In this episode we talk about:

• Why scaling up “wasn’t as scary as it should have been”

How she learned to “go faster, quicker” on ambitious plans

• The Biscuiteers’ move into the US market

• Why the online retailer decided to open physical stores

• The value of partnerships with companies like Emma Bridgewater and Warner Bros

• Why marketing is the most important skill set for entrepreneurs

• Managing rising costs in the global economy

Harriet will be appearing at the Evening Standard’s SME Expo which is being held at Excel London on April 25th and 26th. To find out more and get free tickets, go to smexpo.co.uk

Listen above, or wherever you stream your podcasts.

By Rachelle Abbott and David Marsland

Sourced from Evening Standard

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What Every Founder Needs to Know About the Valuation Gap Between Entrepreneurs and Investors

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For founders to most effectively bridge the valuation gap between themselves and investors, they must establish trust through the following four approaches.

With nearly 25 years on the ground both building sales organizations and generating business growth at scale, I understand the factors influencing a company’s valuation. Nine times out of ten, these metrics are driven by a genuine confidence in a product and its market potential. However, as a founder, it is crucial to fully comprehend and play into the current investor landscape to secure funding in this turbulent market successfully.

In Q3 of this year, VC investment in the U.S. dropped to $43 billion — the lowest since Q2 of 2020 due to high inflation, rising interest rates and fears of a potential recession. Now, the state of the market reveals two competing perspectives.

Amid market corrections, an overall IPO slowdown and pressure on returns, investors are more frugal than they were even a year ago and are adjusting their vision-based valuations accordingly.

At the same time, entrepreneurs are hesitant to accept funding at a level below what they’ve seen in the market over the past few years. Growing companies at all stages are posed with the challenge of raising funds at a time when it’s difficult to get their preferred valuations, and investors are extra conscious of the time it will take to see a return on their spending.

Valuation has always been a major stumbling block when negotiating with investors. Here’s what you should look out for:

Identify changing venture capital criteria

The funding environment is changing, and pretending it’s not won’t get founders anywhere. Rather than relying on old tactics, founders and CEOs can stand out to investors by realistically valuing their company and allocating resources appropriately. Looking back at past deals to vie for a higher valuation is an uphill battle that those seeking funding will not win in this market. By accepting the now and understanding the paradigm shift that is taking place in the investor/business relationship today, company leaders will have more success aligning with investors on their valuation.

Entrepreneurs will also need to lean into investors’ new criteria to prove their company’s value, whether in the early start-up stage or in the midst of seeking a later round of funding. To ensure investors are confident in their decision and will see a return, company leaders should go back to the basics — no matter the size of the business.

For example, startup founders must do their research to ensure they have a solid product that fills a real market need while remaining objective. They will need to answer hard-hitting questions from investors, such as:

  • Have you found a problem worth solving, and will your product do that seamlessly?
  • How is your product genuinely different from that of your competitors?
  • How will you prove this to your potential customers?
  • Have you interviewed potential customers and conducted experiments?
  • Have you fine-tuned your prices?

By the same token, more mature enterprises will need to remain nimble by leaning into what investors are looking for at later stages, asking themselves questions like:

  • Do I understand the investor’s portfolio?
  • Their investment strategy?
  • Have they successfully invested in a company within the same vertical?
  • Do I have hard success metrics I can point to?

It’s time for companies to drop the “I have a unicorn” mentality, which means actively challenging their own assumptions about a product’s market potential. Unicorns are rare, and it’s time to acknowledge that — overvaluing a company will deter investor trust.

In this market, investors have the power and may opt for referential treatment from businesses in exchange for investment. This can include liquidation preferences, preferred shares, allocation of board seats and more. In conjunction with approaching investors with realistic expectations, leaders should be prepared and open-minded to these negotiations, as it could help secure a higher valuation.

Leverage leadership

When trying to secure funding, team credibility is huge in gaining attention and trust from investors, especially in a turbulent market. Companies must build a team of reliable leaders with dedicated roles in their business — those with a proven track record of creating efficiencies and executing go-to-market (GTM) plans.

A company or product backed by leaders who have built successful businesses and understand how to fine-tune a GTM plan goes a long way toward rallying enthusiasm and interest. Successful executives know how to get an idea off the ground and have the network to help it reach fruition — and investors take note. In addition, having a well-connected team also helps to rally general interest from the entrepreneurial community and potential customers.

It is easy for founders and CEOs to narrow their focus on current funding efforts. However, it is also paramount to look ahead by nourishing existing connections. Leaders should surround themselves with hard-working visionaries with similar business interests and values to open the door for a later-stage partnership or collaboration in a future venture.

Approach with hard data

Under the current market conditions, attracting funding requires more than simply having an intriguing product and a big idea. Today, companies must be prepared to show hard data and how that will translate into their GTM strategy– saying no to theoretical numbers and showcasing proof of concept and scalability through data is critical.

With strong data to help support their vision, founders and all business leaders can easily field questions like: How is your company truly performing? How will you continue to drive revenue six months down the line?

Identifying the ROI a company can offer an investor will be vital in securing a preferred valuation and investment.

Adjust in real-time

A solid GTM plan is crucial in securing a desired valuation and maintaining investor interest. To do this, companies must establish a “single source of truth.” When metrics are pulled from multiple sources with different processes and standards, investors will see holes in the plan, which will show a lack of consistency and be deemed non-credible to investors – an observation that is very difficult to bounce back from.

Traditionally, GTM and operating plans are siloed based on misaligned priorities, insufficient data and subjective perspectives. Not only does this cost businesses time and energy, but misaligned business functions and unorganized budget allocation is bad news for investors. Companies that can present metrics from a single source will see greater operational transparency, a more unified planning experience, and more calculated growth. A consistent reporting format like this will allow teams and investors to know where they stand concerning sales goals and how to adjust strategies to optimize success.

To achieve a more unified planning process, business leaders can leverage data-informed AI platforms, which use ML insights to identify patterns and discrepancies that can maximize success. In this context, AI can provide insights that empower organizations of any size to look to the future to see which decisions will have the biggest impact on the bottom line, which mitigates risk. Additionally, these models enable companies to gather data and continuously re-evaluate the allocation of funds.

It all comes down to trust

Understanding what investors want to know and providing transparent access to those metrics in the current market will make or break these partnerships. Researching current investor criteria is crucial in being prepared for what investors are looking for in a funding pitch while leveraging leadership will increase confidence in their projections. Investors will need to trust where entrepreneurs are getting their data and their ability to adjust GTM plans in real-time to cater to ever-changing priorities.

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Sourced from Entrepreneur

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The 13 Challenges of Being an Entrepreneur

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Sourced from Infinity Masculine

Launching a business can be an exhilarating prospect for many, yet the reality of becoming an entrepreneur is rarely a walk in the park. It’s essential to be aware of the harsh realities associated with owning and managing your own venture. This article will cover those difficult truths and provide advice on how to forge ahead toward success despite them.

Being a business owner can be arduous, intimidating, and demanding. It often involves taking huge risks and placing considerable amounts of energy and resources into something that may not yield the desired outcome. Additionally, it can be emotionally draining due to having to deal with public scrutiny, customer relationships, and financial instability. Moreover, you might find yourself wearing multiple hats at once as you oversee marketing campaigns, handle branding initiatives, create strategies for growth, and make essential decisions regarding operations.

On top of that, there are unexpected hardships that come with self-employment, such as having to wear many hats at once or dealing with unpredictable circumstances like changes in the industry or economic fluctuations. Finally, it’s important to remember that failure is always a possibility, no matter how hard you work or how well you plan; sometimes, it is impossible to defy unfavourable odds.

Although entrepreneurship contains its fair share of troubles and tribulations, it doesn’t mean potential business owners should shy away from pursuing their dreams. Those who are properly prepared for what lies ahead have a greater chance of prevailing in spite of these challenges. Here are some helpful tips on being ready: research your field extensively; identify your skillset; create a detailed strategy for success; develop sources for guidance; build supportive networks; ensure financial stability; maintain a proper work-life balance; remain open-minded throughout the journey; and don’t forget to embrace failure & learn from setbacks along the way.

If you want to take on the rewarding but complex role of the business owner, then do so armed with knowledge & an understanding that hard work pays off rather than running into it blind-sighted unprepared & over-ambitious. Take charge today by educating yourself on entrepreneurship & its delightful opportunities in addition to its daunting obstacles.

1. Financial Risk

Enterprising individuals who set out to start their own businesses must confront the spectre of financial risk. Nothing is certain when it comes to launching a business, and entrepreneurs have much to lose, including time, money, energy, and mental health. The potential for significant debt or even total loss cannot be ignored. Fortunately, there are ways to mitigate the financial hazards associated with ownership, such as prudent budgeting and seeking investors or venture capital funding. Nevertheless, despite taking precautions, the ambitious businessperson still faces an unavoidable danger that can never truly be eliminated.

2. Lack of Job Security

As an entrepreneur, there is an inherent lack of job security. Securing and retaining clients requires consistent work and effort, often even in times when demand for your services may be low. It’s up to you to ensure the survival of your company and drive the business forwards, which can take its toll both physically and mentally; it’s a seemingly never-ending cycle of searching for new opportunities, keeping customers satisfied, and addressing problems swiftly. This precarious lifestyle is taxing, unyielding, and unpredictable, making it difficult to plan ahead with any assurance.

3. Unpredictable Income

Being an entrepreneur entails a financially unsteady livelihood. At times, you might have lucrative months where you make a considerable amount of money, while other months may be quite challenging to make ends meet. Such a precarious situation can cause immense stress, and that’s why it is crucial to strategize your expenses and plan ahead so that any potential slow times won’t leave you in dire straits.

4. Isolation

Entrepreneurship can be lonely, leaving entrepreneurs feeling isolated and lacking meaningful connections with others. Working from home brings the risk of succumbing to days without interacting with people, and this can have a potentially damaging impact on mental health and motivation. This social detachment can significantly hamper an entrepreneur’s efforts leading to extreme exhaustion and tediousness.

Therefore, it is important for entrepreneurs to explore ways of creating meaningful networking opportunities and actively seek out dialogue with fellow business owners in order to realize their ambitions. Additionally, breaking away from the comfort zone of the home office is vital since loneliness restricts creativity and impairs productivity. Taking part in discussions with peers helps forge connections that are essential for a fruitful entrepreneurial journey.

By being proactive, nurturing relationships as well as utilizing digital communication networks such as LinkedIn, founders can remain engaged with their peers whilst avoiding the negative repercussions of isolation. Although becoming an entrepreneur may involve periods of solitude, by taking effective measures such as joining professional organizations or reaching out virtually to other professionals, one can remain connected to their industry in an invigorating, stimulating, and inspiring way.

5. Time Management

For entrepreneurs, time management can be a daunting undertaking. Responsible for all business aspects, they often have to juggle many tasks simultaneously and may end up working long hours and weekends. To survive this workload, it is vital to craft a schedule and adhere to it strictly. Following this plan will ensure that essential undertakings are completed quickly while also ensuring enough breaks to prevent burnout – a major problem in the entrepreneur landscape. Adequate time management can yield superior results and aid immensely in running the business efficiently and competently.

6. Lack of Guidance

Becoming an entrepreneur can be both a splendid chance and a pitfall. You have the autonomy to make decisions that are beneficial for your business, but it may also mean a lack of advice and direction. To succeed, finding mentors offering support and insights is imperative. Additionally, you must network with fellow entrepreneurs or attend courses to gain the necessary know-how. Thus, it is essential to locate reliable guides that can provide guidance and feedback in order to steer you in the proper direction. Moreover, meeting other entrepreneurs and taking classes is vital for attaining the required information needed for success in your venture. Therefore, don’t overlook the need to seek out wise counsellors who will offer judicious opinions and helpful suggestions.

7. Public Perception

As a business owner, the challenge of public perception looms large. After all, the successes and errors you make in your business are a direct reflection of you and how you work. It’s only natural to make mistakes from time to time, but it is vital that these mistakes be quickly acknowledged, accepted, and owned up to. Doing so demonstrates courage and integrity on your part, which can go far in restoring or even enhancing public opinion about your company. Building a positive reputation takes time and effort; one misstep can easily erase months or even years of progress. However, if handled properly by taking responsibility for a said mistake, it can often strengthen the bonds between you and your customers – allowing you to continue building a strong, reliable brand.‍

8. Time Investment

Taking the plunge into entrepreneurship can require a massive time commitment in order to reap the rewards. Business owners must be prepared to invest countless hours researching, networking, and strategizing for success. This may include overseeing not only their own activities but also managing any employees or contractors brought on board. As such, entrepreneurs may find themselves dealing with high levels of stress and extended working hours. Becoming an entrepreneur is no small feat: it takes dedication, resourcefulness, and fortitude to make it in the business world.

9. Legal Risk

When establishing a business, there is an array of legal issues that must be taken into account. This could involve selecting the proper corporate structure, abiding by tax regulations, procuring valid permits and licenses, and so forth. If any of these steps are found to have been completed incorrectly, companies may face serious financial penalties or even potential criminal proceedings. It is, therefore, essential for entrepreneurs to thoroughly review all legal documents and contact a lawyer if needed for further guidance.

To guarantee sufficient protection from legal risks, businesses must remain up-to-date on current legal regulations and actively work to avoid costly mistakes. Thoroughly studying paperwork, seeking knowledgeable advice from attorneys, and staying informed through reliable channels are all important proactive measures that can help reduce the probability of facing hefty fines or criminal liability.

10. Competition

Navigating the modern business world is often challenging and full of obstacles. It’s no secret that competition can be overwhelming, with established companies as well as startups vying for clients and investors alike. This means taking a proactive approach to staying ahead of the curve – monitoring current trends in pricing strategies and marketing techniques, understanding the risks that come with starting your own business and having the courage to succeed despite these hard truths being essential. Through careful planning and diligent effort, an intrepid entrepreneur can achieve great rewards.

The key takeaway here is that entrepreneurship requires dedication, perseverance and a comprehensive strategy if it’s to provide true success. From assessing potential difficulties to taking advantage of lucrative opportunities, it’s important to maintain a positive outlook while balancing realistic expectations. With enough diligence and ingenuity, it’s possible to establish a successful venture regardless of the fierce competition in today’s market – an endeavour accompanied by its own set of unique, exhilarating and fulfilling rewards.

11. Time Commitment

Being an entrepreneur is an endeavour that calls for massive amounts of time and effort. Long hours and late nights are the norms, making it essential to be committed if you want to succeed. What’s more, hard choices must be made in regard to how much time can be dedicated away from work in favour of other areas of life. Thus, substantial dedication and tedious organization are necessary for achieving a healthy balance between work and leisure. From preparatory research and planning through to the final stretches, it takes rigorous perseverance and mindful composure to conquer the arduous task of becoming a triumphant business owner.‍

12. Relationships

It is essential to be mindful of the relationships you have with your loved ones. Starting a business can be all-consuming, causing distance and disconnection if not managed carefully. This, in turn, may lead to feeling lonely, isolated, and even clinically depressed. It is crucial to keep in touch with important people in your life despite being busy. Being an entrepreneur has many positive aspects as well and should not dissuade anyone; with strong determination, proper planning, and the right mindset, success awaits.

13. Stress & Anxiety

Running a business can be an incredibly demanding endeavour, filled with stress and anxiety. It’s important for entrepreneurs to make sure they are taking care of their mental health by setting aside time for themselves, finding activities that reduce or help manage stress levels like yoga or meditation, and having support systems in place through family members or friends. Self-care is essential in order to ensure that the emerging pressures of being an entrepreneur don’t have a long-term detrimental effect on one’s emotional well-being. Adopting mindful, beneficial, restorative, constructive, preventative, all-encompassing, and purposeful approaches to self-care can all help entrepreneurs stay grounded and focused on their goals.

The Bottom Line

It takes a lot of grit and dedication to become an entrepreneur – mental and financial strength is essential. But when done correctly, the rewards can be abundant. You must be aware that there will always be highs and lows, yet success is possible through proper planning and hard work. With know-how and the right preparation in hand, embarking on the entrepreneurial path can prove to be an extraordinary, fruitful, successful, rewarding, ambitious, gratifying, and life-changing decision.

Feature Image Credit: Unsplash

Sourced from Infinity Masculine

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About To Lose Your Cool? Try These 15 Expert Tips

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Sourced from Forbes

In business, dire situations can sometimes arise that cause panic across company leadership. During those trying times, it can be difficult to remain calm. However, it’s important for leaders to keep their cool, especially since these circumstances may have a long-term impact on business.

As experienced business leaders, the members of Forbes Business Council understand that keeping one’s cool is the key to mitigating the impact of challenging situations. Below, 15 of them share tips for entrepreneurs to help them remain calm during a dire situation.

1. Look At A Situation With Empathy

Stephen Covey answered this one perfectly, “Seek first to understand, then to be understood.” Entrepreneurs are constantly working to maintain control of their businesses, and challenges to that control can feel like a personal attack. Often, working to understand the situation empathically gives entrepreneurs a different path to a solution—one that feels like a choice instead of a forced capitulation. – Bryan Howard, Mercury Performance Group, LLC

2. Remind Yourself That Hardships Will Pass

Take a pause and recall some disastrous situations from your past—the ones where you thought “Okay, now it’s all over, I’m screwed.” Then remember that after all, you got out of it. Remind yourself that everything is water under the bridge, and even the worst situations pass and you go on. Now, once you’ve got your nerve back, pull yourself together and get back to solving it. – Alexander Shevchenko, Guavus

3. Write Down Your Problems And Solutions

The best way to deal with a tense business situation without losing your cool is to take a step back and assess the situation objectively. Take a few deep breaths and count to 10, if necessary. Ask yourself what’s the worst that can happen. Write down a list of the possible outcomes and the steps you can take to mitigate them. A clearer sense of the situation will help make an informed decision. – Ritesh Dalal, Intellective

4. Be Open About Your Challenges

Being transparent and open about challenging issues can help you solve them. I have always found that talking about challenges makes their power over your mental preparation to deal with them immediately shrink. And if you share with the right people, you may get ideas to remedy the situation that you wouldn’t have thought of on your own. Teamwork makes the dream work! – Jennifer Coy, Beauty Care Choices

5. Maintain Your Composure For Your Team

You must have an outlet outside of the company, and you cannot show fear, stress or uncertainty to your team at any time. As leaders, we have to maintain composure so our team can have confidence in our abilities and in the health of the organization. I’ve always liked the notion of acting like a duck—calm above the water but kicking like crazy beneath. – Laura Silver, Blue Door Communications

6. Find The Positives In Every Situation

Keep a positive mindset and never allow your emotions to get to you. If you draw positive thoughts in every difficult situation, you’ll eventually find the beauty of hardships as you learn ways to overcome them. – Pavel Stepanov, Virtudesk

7. Know That It’s Okay To Fail

Understand that it can not be “your time” every time. A positive and learning approach never fails. It is okay to not have the best output as per what you predicted, but learning from it and coming back with double the experience is amazing. – Neha Madaan, Vanator

8. Take A Pause

It’s important to let the immediate reaction settle so action steps can be made with a clear mind. It also allows for the whole picture to be seen, including what is not going wrong, instead of the narrow scope of the situation. This will help develop a strategic, solution-oriented mindset without being driven by an emotional response. – Melanie Ammerman, VaVa Virtual Assistants

9. Move On To A Different Subject, Then Come Back Later

Think through your decisions and don’t decide anything as quickly as you lose your cool. Everything in business changes and you have to be able to realize that in certain situations. Oscillate to a different subject and then come back to the difficult situation later with a clear head. – Kirt Linington, Linear Roofing & General Contractors, LLC

10. Take The Emotion Out Of The Conversation

Take a few minutes or time to temporarily compartmentalize or sleep on it. Then, when you’re ready, begin the conversation. Get the facts, process the information and once you have all the information, voice your thoughts and potential solutions. Removing emotion forces you to be objective and focus on the solution rather than acting rashly. – Deyman Doolittle, ShipSigma

11. Let Your Emotions Settle

The best way to keep your cool is to remember to not act a fool. The life we live is one of human emotion. Knowing this allows you to control this ball of tense energy waiting to explode at any minute. Walk away and schedule a follow-up conversation to healthily communicate that is when you’re less emotionally charged. – Joshua Steinberger, NextGen Restoration

12. Acknowledge The Other’s Perspective

Taking deep breaths, counting to ten and repeating positive affirmations can all help reduce stress and give you time to assess the situation more objectively. Remember, exchanging civilities with your colleagues shows that you are open to working together in a constructive manner which will inevitably lead to a better resolution. – Michael Shribman, APS Global Partners Inc.

13. Remember What Your End Goal Is

Successful entrepreneurs learn early on to deal with respect, due diligence and patience when it comes to people’s issues or operations’ challenges. Before reacting or losing your temper, you must remind yourself what the end goal is. Demonstrating your leadership skills by clearly understanding and focusing on the result helps diffuse the tension and create a positive environment. – Francisco Ramirez, The ACE Group (TAG)

14. Understand The Pressure That Comes With The Entrepreneurial Journey

Accept the difficult truth that this is part of the journey of entrepreneurship. Involuntary and voluntary friction are guardrails towards success. The mind has the ability to calm the heart. Science is proving the wisdom of the heart when the mind drives thoughts that allow elevation of it. View the pressure as necessary, similar to how the eagle rises above the storm for a smoother flight. – Paul L. Gunn, KUOG Corporation

15. Assume Positive Intent

Assume positive intent. Remember that working with people is the most difficult, yet most rewarding aspect of business. Believe that everything happens for a reason, and remember that it’s not personal. – Martina Seferovic, OIP Inc

Sourced from Forbes

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The Ultimate VC’s Guide to Creating a Landing Page that Attracts Investors

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By Karnika E. Yashwant

Creating a landing page to attract investors as a VC can be a challenging task, especially in today’s market where safety of the investment is a top concern. With the number of scams and mistakes that have taken place in the industry, investors are looking for assurance that their money is in safe hands. In order to attract these investors, it’s important to understand what they are looking for and update your landing page consistently.

Here are some key factors to consider when creating a landing page that will attract investors:

  • Show the process and steps taken to protect investors: Investors want to know how their money is being safeguarded. This includes information on how due diligence is conducted and any data that supports the process. Be sure to present this information in a simple, step-by-step manner.
  • Include information about the people involved in the investment decision: Investors want to know who they are entrusting their money to. This includes information on the board of members, their qualifications, and how the investment decision is made.
  • Highlight past investment success with specific numbers: Including information on your portfolio and past investments can build trust. However, it’s important to also include specific numbers to show that these investments have paid off. This includes information on how the fund or portfolio companies performed across different market conditions.
  • Include feedback from other investors: Crypto space runs quite a lot anonymously, but when you can put faces out there and build trust that will come in very handy. Include feedback from other members who have been part of the investment for a longer period of time. This can be in the form of videos, audio, or text.
  • Include media publications and other places where you’ve been featured: Any publicity that can help build trust and interest in your fund should be included on the landing page. This includes media publications where you’ve been featured and events where you’ve spoken.
  • Have a structured, corporate-looking website: A well-organized website can attract traditional investors who value structure and trust. However, it’s important to consider the type of investor market you’re trying to attract.
  • Showcase the team’s backgrounds and expertise: Investors want to know that the team behind the fund has the technical ability to understand a project, the ability to foresee the marketing, financial, and compliance side, and diverse expertise in the team.
  • Do not appear desperate or needy: The landing page should clearly state that the kind of investors you’re looking for is not everyone but a very specific type. The more you qualify them, the more boundaries or barriers you set, the more interested the target group would be to be part of it.
  • Create a demand by requiring mandatory training or testing: Funds can require that investors pass a mandatory test or training course before they can invest. This creates a sense of exclusivity and demand that can attract more investors.

Ultimately, every investor segment is different, and it’s important to market effectively and build trust and interest in your fund. By understanding what investors are looking for, creating a structured and organized landing page, and showcasing the team’s expertise, you can attract the right investors for your fund.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

By Karnika E. Yashwant

A prolific writer, KEY brings an insider perspective to blockchain ventures and crypto startups. He shares cutting edge content marketing strategies from his 11 years of management experience. Perfectly balanced in mind and body, he runs marathons, target-shoots, engages in extreme sports and takes a vacation break in 5+ countries annually.

Sourced from Cryptopolitan

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How To Self-Publish A Book In A Competitive Digital World

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By Deanna Ritchie

For writers and artists of all kinds, making a living isn’t always straightforward. Regardless of the medium or genre, competition abounds, and even with some online success, it can be challenging to break through to a broader market.

The internet has made it both easier and more challenging to get your work out there. On the one hand, social media platforms allow writers and artists to connect with their audience, but this also means more people are trying to do the same thing as you.

As you look for ways to use new avenues of technology, finding ways to let technology and the internet help you as an artist or writer is essential.

How Tech-Fueled Self-Publishing Can Help Varying Artists

One area that many creators are utilizing is self-publishing. In the music industry, this usually means creating a SoundCloud or posting your new songs on TikTok. For visual artists, this can include creating dedicated social media profiles for their art. But for writers, things can be more complex. Those who wish to publish their own books might be unsure of how to utilize technology or the internet to get to that point, but the truth is that self-publishing is a sensible route for many aspiring authors. Self-publishing is similar in many ways to start a business.

With more and more channels available for writers across all genres and topics, many people are pursuing self-publishing instead of going with publishing companies. There are pros and cons to both routes, but self-publishing allows anyone with a dream to make their book vision come true.

You may wonder about the steps you need to take to self-publish. Here’s an essential guide to getting started.

Why Self-Publishing is a Good Idea For Some Authors, Especially New Ones

The traditional publishing industry has the resources and reputation that many writers look for when trying to publish their books. If you can get a publishing house to accept your book, you’ll get paid and get the resources to market and sell your book.

However, it’s rarely that straightforward. Even a well-written book that’s original and creative might not be what traditional publishers look for in their acquisitions. Larger publishing houses may have preconceived notions of what will and won’t sell, and they also receive countless submissions. In some cases, an indie publisher might be a good alternative, but these also have downsides.

So, for new writers, self-publishing is a way to get your name out there and build an audience. The truth is that pitching your book to an agent is time-consuming. You may end up querying dozens upon dozens of literary agents with hardly a word back. This is especially true if you still need to build a reputation for yourself as an author. Instead, self-publishing allows you to harness any online traction you already have and then further your audience base. Once you publish something, you can point interested people to where your book is sold, which is an excellent way to build up social media buzz and spread the word.

Six Essential Steps For Self-Publishing Your Book (Regardless of Genre)

Self-publishing isn’t for everyone, but it is a viable option for many. Depending on your situation, self-publishing may be the only realistic route to getting a book in physical copy. But if you want to pursue self-publishing, you’ll likely have many questions about the process. Whether you want to publish a poetry book, sci-fi novel, or short story anthology, the approach to self-publish is much the same. Of course, as with most aspects of writing, the steps are often more complicated than can be put on paper.

To get you started, here are some steps to take when self-publishing:

Step 1: Ensure Your Book Has a Market

While you can self-publish nearly anything you want to write, you do have to look at the cost of production versus how much you’re likely to make. Of course, if you have the money to self-publish and aren’t worried about profit, you should go for it. However, for most writers, profit is at least a factor. To ensure you can make a profit now, or later as you build an audience, research the market for your genre. You can confirm you have a unique idea or at least a premise that is appealing to your potential readers.

Step 2: Focus Heavily On Editing

One potential downside to self-publishing is you won’t have access to qualified, professional editors. However, editing is still vital. If you want to succeed as an author, you need to publish a book that is free from grammar and spelling errors, and it’s also wise to do broader edits to things like plot and continuity. You’ll need to find editors to help you. If you’re lucky, you’ll already know someone in your network who can assist you. But keep in mind you will need to pay editors for their time and expertise.

Step 3: Figure Out the Cover

The design of your book cover also matters. The cover is the first thing readers see, and it’s a significant part of drawing an audience. Many people specialize in designing book covers, and this is a part of self-publishing where you’ll want to devote some extra time and money. If you need help with graphic design services, you can reach out to freelancers for help.

Step 4: Consider Where and How You Want to Sell the Book

Overall, it’s much easier to self-publish today because there are more platforms. Amazon has a program for self-published authors. With them, you can have your book be printed-on-demand, which means books are only created once they are ordered. But, if you self-publish through Amazon, you won’t be able to sell your book in other places. As an alternative, you could also choose to publish on your own website. But, in this case, you’ll need to find a printing company to create the book for you.

Step 5: Consider Your Budget

Self-publishing saves a lot of time and stress, but it isn’t free. The cost of hiring editors, graphic designers, and more adds up. And, if you’re choosing to pay to have the books printed yourself, the budget can get out of hand. So, before you get too far into the process, be sure you’ve planned your budget. You only want to spend what you have.

And, as you do all the hard work to write and then bring your book to the world, remember to take time to unwind and relax. Here are some tips on how to unplug.

Step 6: Launch Your Book Like You Would Any Business Product

After you have your book formatted and ready, you need to work on the marketing. This step is vital to your success as a self-published author. While there’s no one right way to market, you’re likely to succeed more if you consider your book launch as a professional would. Figure out how much money you have in your budget to do things like making social media ads. It’s also helpful to use analytics tools.

Also, be sure you have your social media pages all setup. You’ll want to post on them regularly and engage with your audience.

Final Notes on Self-Publishing

As you start this process, look online for communities of writers in the same situation. This is a great way to learn tips and tricks for people who have self-published already. Remember that self-publishing isn’t a one-size-fits-all model.

If you don’t sell as many books as you’d hoped, don’t give up. Many authors don’t see success until they’ve published more than one book, and this is true regardless of how their book got published.

Featured Image Credit: Suzy Hazelwood; Pexels.com

By Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Sourced from readwrite

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